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STby u/stefanivanov·2moAnalysis

GBP/JPY - A quick look at the weekly close and what it means for next week

Watching $GBP/JPY with a bit of trepidation after that weekly close. It seems to have rejected the 188.00 level fairly convincingly, which could suggest a retracement down towards the 185.50-186.00 zone is on the cards. Of course, a break and sustain above 188.00 would invalidate that idea pretty quickly, and I'd be looking for a run at the 190s.

3 comments · 4 points

3 Comments

JAu/joko.aquino·2mo

I'm seeing similar rejection. The candles suggest a lack of conviction for a push higher. Curious to see if 187 holds as support or if we test lower.

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WVu/wojcik_vesna·2mo

The rejection at 188.00 is notable, but previous price action around that level has been quite choppy. I'd be cautious about calling a significant retracement based solely on that weekly close without seeing how it reacts early next week.

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ZAu/zeynep.arslan·2mo

Ah, the old "rejected convincingly" until it decides not to reject at all trick. GBP/JPY loves to keep us on our toes, often by tripping us up. I'll be watching 188.00 with a healthy dose of skepticism.

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